Export credit guarantee corporation of india

EVFTA opens new era in Vietnam-EU trade ties: Italian experts The factory of the Far Eastern New Apparel Vietnam company in Bac Dong Phu Industrial Park, Binh Phuoc province The EU-Vietnam Free Trade Agreement (EVFTA) is hoped to usher in a new period in promoting cooperation and mutual economic development between the two sides as it comes into effect in mid-2019, according to Italian experts. In a recent interview granted to Vietnam News Agency’s correspondent in Italy, Vietnam’s Honorary Consul in Turin Sandra Scagliotti and Chairman of the Italy-Vietnam Chamber of Commerce Fulvio Albano stressed that the new-generation agreement may mark the beginning of a new era in trade relations between Vietnam and the EU. Negotiations and the legal review have been completed for both the free trade agreement and the one on investment protection. The EVFTA process is now awaiting the Council of Europe and the European Parliament to sign and ratify it. The agreement … [Read more...] about BUSINESS NEWS IN BRIEF 22/1

Singaporean enterprises seek opportunities in Vietnam A Singaporean mission of nearly 20 firms will visit Vietnam from October 15 to 19 to sound out cooperation prospects. The trip is jointly held by the Vietnam Trade Office in Singapore, the Malaysia-Singapore Chamber of Commerce and Industry and the Singapore Business Federation. According to the organizers, the Singaporean delegation includes representatives of large corporations, such as Sembcorp, which has developed seven Vietnam-Singapore industrial park projects in Vietnam, and NTUC, the retailer accounting for more than half of Singapore’s market share. Besides visits to corporations and industrial parks in Vietnam, there will be trade promotion meetings in HCMC and Can Tho City so that enterprises of the two countries can seek partners and export goods. Representatives of the South Agency of the Ministry of Industry and Trade, the HCMC Department of Industry and Trade and the Vietnam Trade Office in Singapore will also … [Read more...] about BUSINESS NEWS IN BRIEF 18/10

PM to chair meeting on wood exports Prime Minister Nguyen Xuan Phuc will chair a meeting on wood processing industry and forestry exports in HCM City on August 8, the Ministry of Agriculture and Rural Development’s Viet Nam Administration of Forestry has announced.The forthcoming event will attract the participation of more than 500 enterprises operating in wood and representatives from foreign and domestic agencies. They will discuss measures for the fast and sustainable development of timber industry in the time to come.Statistics from the administration revealed that the country earned US$5 billion from forestry exports in the first seven months of this year, up 14 per cent year-on-year.The exports fulfilled nearly 56 per cent of the yearly target and made up 22.6 per cent of the total turnover of the agriculture sector.The US, China, Japan and South Korea were the largest forestry importers of Vietnamese timber goods. Other markets with strong growth … [Read more...] about BUSINESS NEWS 7/8

Opportunity arises for orange exports to Indonesia Indonesia will become an important market for Vietnamese orange exporters as Indonesian oranges have fallen out of favour in the domestic market, according to the Vietnam Trade Office in Indonesia. Indonesian oranges are less sweet and their skins are paler compared with foreign oranges, the office said. In addition, imported oranges are sold at the competitive price of 28,000 rupiahs (2.09 USD) per kilogramme while consumers have to pay 24,000 rupiahs (1.79 USD) for one kilogramme of domestic oranges. Vietnamese orange exporters were recommended to research exporting to Indonesia. Vietnam's total fruit and vegetables export value reached 2.4 billion USD in 2016. The value is expected to increase to 3 billion USD this year. Vietnamese fruits and vegetables have been exported to 60 countries and territories worldwide. Indonesia is among major importers of Vietnamese fruits and vegetables. Bao Viet signs co-operation agreement with … [Read more...] about BUSINESS NEWS 2/3

VietNamNet Bridge - The Southern Food Corporation, also known as Vinafood 2, one of two of Vietnam's largest rice exporters, has reported an accumulative loss of VND1 trillion ($45 million). Vinafood 2’s latest report showed that the corporation has had difficulties since 2012. It made a pretax profit of VND167 billion in 2012, but then took a loss of VND268 billion in 2013 and VND900 billion in 2014. Explaining the bad business performance, Vinafood 2 blamed the stiff competition in the world market. In the high-end market segment, Vietnam has to compete with Thailand, which has lowered selling prices in an effort to clear its stocks. Meanwhile, in the low-cost market segment, the plentiful supply from India makes it difficult for Vietnam to export products. When asked about the huge loss of VND900 billion in 2014, Vinafood 2 said when it won the bid of providing 600,000 tons of rice to the Philippines, the domestic rice price unexpectedly increased. As a result, Vinafood 2 … [Read more...] about Giant rice exporter incurs huge loss